Economic News Updates

For each market we cover, OBG produces regular economic research available on our website, by email subscription and via RSS feed. Free to access, our Economic Updates are targeted at those looking for regular comment on key sector developments.

Public and private sector efforts are under way to increase Port Moresby’s electricity supply ahead of the Pacific Games in July, as the Papua New Guinea government tries to allay fears that the major sporting event could be disrupted by blackouts.

A projected rise in home ownership, along with increasing demand for private health coverage are among the forces expected to drive growth in Papua New Guinea’s insurance sector. However, competitive pressures and global risks may also hamper the industry during the course of the year.

A surge in gas exports will set Papua New Guinea on course for an economic boom in 2015 with some estimates putting GDP growth at a stellar 21%. However, tumbling oil prices are likely to take some of the shine off export receipts, limiting the government's ambitious plan to slash debt.

A surge in liquefied natural gas (LNG) exports is expected to nearly treble the pace of economic growth in Papua New Guinea in 2015 putting the South Pacific island nation at the top of the league of fast-growing economies and helping it bridge a widening budget deficit.

Efforts are being stepped up to ensure the sustainability of Papua New Guinea’s (PNG) fisheries industry as illegal fishing threatens its long-term future. At the same time, the country is seeking to raise quality control to encourage more investment in onshore processing.

The information and communications technology (ICT) sector in Papua New Guinea (PNG) is fast expanding, with new funding paving the way for industry players to meet rising demand from businesses while moving towards connecting rural communities.